A Joint Custody Wallet is a type of digital wallet designed for shared ownership and control of cryptocurrency assets. It requires multiple private keys for transactions, meaning two or more parties must approve any action taken with the funds. This setup enhances security and accountability.Typically, this wallet is used in partnerships, family arrangements, or organizational settings where trust among users is crucial. By requiring consensus for withdrawals or transactions, it reduces the risk of fraud or mismanagement.For example, if two people co-invest in a project, they can use a Joint Custody Wallet to ensure that neither can unilaterally access the funds. Both partners would need to sign off on any transaction, fostering a collaborative approach to handling their investment.Overall, Joint Custody Wallets promote shared control while protecting against unauthorized access, making them a popular choice for shared investments and collaborative projects.